Fluence Energy, Inc. (NASDAQ:FLNC) Short Interest Update

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 13,690,000 shares, an increase of 8.7% from the March 15th total of 12,600,000 shares. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI bought a new stake in shares of Fluence Energy during the 3rd quarter valued at $27,000. Pflug Koory LLC bought a new stake in Fluence Energy during the 1st quarter worth approximately $35,000. Quarry LP bought a new position in Fluence Energy in the 4th quarter valued at $38,000. Point72 Hong Kong Ltd purchased a new position in shares of Fluence Energy during the 2nd quarter valued at $39,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Fluence Energy by 185.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after purchasing an additional 1,388 shares during the period. Institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FLNC. Piper Sandler reduced their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Bank of America upped their target price on shares of Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. The Goldman Sachs Group cut their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Tuesday, January 16th. Finally, Susquehanna upgraded Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.56.

Fluence Energy Trading Up 1.3 %

Shares of FLNC stock traded up $0.21 on Wednesday, hitting $16.26. 1,563,581 shares of the stock were exchanged, compared to its average volume of 2,290,878. The firm’s 50 day moving average is $16.70 and its two-hundred day moving average is $19.52. Fluence Energy has a one year low of $13.03 and a one year high of $31.32. The firm has a market capitalization of $2.90 billion, a PE ratio of -30.66 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The business had revenue of $363.96 million for the quarter, compared to analysts’ expectations of $403.93 million. During the same period last year, the company earned ($0.21) earnings per share. Fluence Energy’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, sell-side analysts expect that Fluence Energy will post 0.14 earnings per share for the current year.

Fluence Energy Company Profile

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.